RealTime IT News

Kmart's BlueLight Specials Extend to Stock

Kmart Corp. Tuesday added its own stock to its merchandise list by offering it through its newly-launched e-commerce site, BlueLight.com.

Kmart (KM) partnered with StockPower Inc. to offer shares of Kmart common stock to customers of the site through a program called Kmart Stock Direct. The program is administered by EquiServe L.P., the transfer agent for Kmart common stock.

Stock Direct is an automated system that offers Kmart's stock services through the Web site, including automatic monthly stock purchases and customized e-mails containing stockholder communications, as well as information on special Kmart promotions and sales.

"By using StockPower's technology to provide our Kmart Stock Direct, Kmart can offer customers and current and potential shareholders tremendous advantages in convenience and efficiency," said Bob Burton, Kmart's divisional vice president of investor relations. "We are delighted to be one of the first companies to implement this kind of innovative service."

"We're thrilled to team up with one of the nation's premier retailers to bring its direct stock purchase process online," said Dean Frost, president and chief executive officer of StockPower. "Clearly, Kmart understands the value of connecting directly with its investors and customers and realizes that the Internet is the most effective means -- from both a cost and time perspective -- to achieve that goal."

Kmart Stock Direct can be accessed online in the About Kmart section of BlueLight.com or at StockPower's Web site.